Streetbeat News

Earnings

TSLA

WKSP

Tesla Inc (NASDAQ:TSLA) posted an all-time high quarterly revenue but price cuts and incentives thinned its margins. Worksport Ltd (NASDAQ:WKSP) announced the completion of its first assembly line, with production to start in three weeks. Tesla's Q2 revenue was $24.93 billion, with operating margin at 9.6%, the lowest in the last five quarters. Tesla's core EV business expanded 46% YoY to $21.27 billion. Tesla shares rose 136% year to Wednesday’s close.

Portfolio Pulse from Upwallstreet

July 20, 2023 | 6:15 pm

BABA

A significant amount of unusual options activity has been observed for Alibaba Group Holding (NYSE:BABA), with a bearish stance being taken by a majority of investors. The price range targeted by these investors over the last 3 months is from $35.0 to $180.0. Several financial institutions have downgraded their ratings for Alibaba, with price targets ranging from $98 to $180. The company's next earnings report is expected in 14 days.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 6:02 pm

UCBI

United Community Banks, Inc. (UCBI) missed Q2 earnings estimates, reporting adjusted earnings of $0.55 against the consensus of $0.61. However, Stephens analyst Russell Gunther reiterated an Overweight rating and raised the price target to $33 from $31, citing better-than-expected non-interest expense run-rate, mid-single-digit organic loan growth, and future M&A integration as positive factors. Gunther lowered FY23 and FY24 Op. EPS estimates due to the Q2 miss and a lower NII outlook.

Portfolio Pulse from Nabaparna Bhattacharya

July 20, 2023 | 5:50 pm

TSLA

Tesla Inc's stock plunged over 8% following its Q2 earnings release, despite beating expectations. Analysts from four firms raised their price targets for the stock. Baird analyst Ben Kallo maintains Tesla as a “Best Pick” for the second half of 2023, noting the company's declining margins. Despite the sell-off, the stock's uptrend has not been negated, and the downturn occurred on lower-than-average volume, suggesting bullish control.

Portfolio Pulse from Melanie Schaffer

July 20, 2023 | 5:40 pm

NFLX

TSLA

Tech stocks are trading lower due to weak quarterly reports from Netflix and Tesla. This has affected the overall tech sector.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 5:37 pm

ANGH

FYBR

NFLX

During Thursday's intraday session, several communication services stocks experienced significant movements. Anghami, Frontier Communications, FingerMotion, Glory Star New Media Gr, Spark Networks, and Liberty TripAdvisor Hldgs saw gains, while Antelope Ent Hldgs, Sify Technologies, Cardlytics, Kore Group Holdings, Fangdd Network Group, and Netflix experienced losses. Factors influencing these movements include recent earnings reports and trading volumes.

Portfolio Pulse from Benzinga Insights

July 20, 2023 | 5:31 pm

INFY

The article lists the stocks that gained and lost in Thursday's mid-day session. Some of the gainers include PainReform Ltd., T2 Biosystems, Inc., SigmaTron International, Inc., and Pasithea Therapeutics Corp. Some of the losers include Vir Biotechnology, Inc., Netcapital Inc., Aspira Women's Health Inc., and DURECT Corporation. Infosys Limited shares declined by 9.4% due to worse-than-expected quarterly earnings results.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 5:26 pm

TSM

Taiwan Semi reported a year-over-year decrease in Q2 revenue results, issued Q3 revenue guidance below estimates, lowered its 2023 revenue forecast and announced Arizona N4 production will be delayed until 2025. As a result, its shares are trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 5:22 pm

SAP

SAP SE reported Q2 FY23 revenue growth of 5% Y/Y to €7.55 billion, with cloud revenue increasing 22% Y/Y to €3.32 billion. However, software licenses and support revenue declined 4% Y/Y to €3.19 billion. The company also updated its FY23 outlook, revising guidance for cloud revenue and non-IFRS operating profit. Despite these results, SAP shares traded lower by 4.42% at $136.68.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 5:21 pm

COLB

Columbia Banking System Inc (NASDAQ:COLB) reported lower than expected Q2 earnings, with revenues of $523.65 million, missing the consensus of $584.7 million. The company also reduced its guidance for an adjusted net interest margin. As a result, several analysts, including Raymond James, Wells Fargo, and Stephens & Co., lowered their price targets on the company. COLB shares are trading lower by 9.98%.

Portfolio Pulse from Lekha Gupta

July 20, 2023 | 5:09 pm